Costco Wholesale Corporation $COST Shares Sold by Integrated Wealth Concepts LLC

Key Points

• Integrated Wealth Concepts LLC reduced its position in Costco Wholesale Corporation by 1.3%, owning 20,250 shares worth approximately $19.15 million as of the latest SEC filing.
• Recent analyst activity shows a mixed outlook for Costco, with Truist Financial raising its target price to $1,042 and maintaining a "hold" rating, while others have downgraded their ratings.
• Costco announced a quarterly dividend of $1.30 per share, resulting in an annualized dividend of $5.20 and a dividend yield of 0.5%.

Integrated Wealth Concepts LLC cut its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 1.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 20,250 shares of the retailer's stock after selling 270 shares during the period. Integrated Wealth Concepts LLC's holdings in Costco Wholesale were worth $19,152,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Investment Management Corp VA ADV acquired a new position in Costco Wholesale during the 4th quarter valued at approximately $25,000. Aspect Partners LLC increased its holdings in shares of Costco Wholesale by 24.4% in the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after acquiring an additional 11 shares during the period. Capital A Wealth Management LLC bought a new stake in Costco Wholesale in the 4th quarter valued at about $58,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Costco Wholesale in the fourth quarter valued at approximately $59,000. Finally, Bank & Trust Co grew its holdings in Costco Wholesale by 20.4% in the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer's stock worth $61,000 after buying an additional 11 shares in the last quarter. Institutional investors own 68.48% of the company's stock.

Wall Street Analyst Weigh In

COST has been the subject of a number of recent analyst reports. Truist Financial increased their target price on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a research report on Friday, May 30th. Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Erste Group Bank cut Costco Wholesale from a "buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Stifel Nicolaus set a $1,035.00 price target on shares of Costco Wholesale in a report on Thursday, May 29th. Finally, Evercore ISI lowered their price objective on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 17th. Seventeen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,050.00.

Insiders Place Their Bets

In related news, EVP Yoram Rubanenko sold 4,000 shares of the business's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the completion of the transaction, the executive vice president owned 5,774 shares of the company's stock, valued at approximately $5,629,419.04. The trade was a 40.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Patrick J. Callans sold 3,000 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the completion of the transaction, the executive vice president directly owned 58,543 shares of the company's stock, valued at approximately $58,705,164.11. This trade represents a 4.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,147 shares of company stock worth $8,039,440 over the last quarter. 0.18% of the stock is currently owned by company insiders.

Costco Wholesale Stock Performance

Shares of NASDAQ COST opened at $955.90 on Friday. The business's 50-day moving average price is $962.66 and its two-hundred day moving average price is $978.32. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. Costco Wholesale Corporation has a one year low of $867.16 and a one year high of $1,078.23. The company has a market capitalization of $423.92 billion, a P/E ratio of 54.22, a price-to-earnings-growth ratio of 5.32 and a beta of 0.97.

Costco Wholesale Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale's payout ratio is currently 29.50%.

About Costco Wholesale

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.

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